May 25, 2013 |
In a dour end to Abercrombie & Fitch Co.'s difficult week, the teen retailer watched its stock slide by the largest margin in months after it reported a double-digit sales decline. The company's same-store sales in the U.S. plunged 17% in the first quarter, while its revenue sank 8.9% to $838.8 million. And although it narrowed its loss to $7.2 million, or 9 cents a share - from $21.3 million, or 25 cents, a year earlier - it still blew past Wall Street's expectation of a 5-cent loss per share.
October 31, 2012 |
It's been a rough day on Wall Street so far for Apple, which has seen shares fall as much as 2.7% in morning trading. Wednesday is the first day of trading since Apple Chief Executive Tim Cook announced a management shakeup that included the departures of John Browett, the head of retail operations, and Scott Forstall, who oversaw the company's widely panned Siri and Maps app products. Shares fell as low as $587.70. At 11:45 a.m. Pacific time, they were at $600.95, down $3.05 or 0.5%.
January 22, 2006
In the Jan. 14 editorial on executive pay, I was struck by the lines that said part of the typical pay package is based on how much the stock price rises. Couldn't that same formula be slightly expanded to how much the stock price declines? That seems logical, but as far as I understand, it's not done. ESTHER LEVY Sherman Oaks
July 28, 2012 |
Think the plunge in Facebook's stock after its sluggish earnings report was bad? Wait until a torrent of new shares hits the market in a few weeks. Facebook will free up nearly 1.7 billion shares - four times the number now trading - starting next month as provisions that had barred employees from selling their holdings begin to expire. That could cause the latest migraine for dispirited Facebook investors, who watched in anguish as the stock was bludgeoned after Thursday's second-quarter earnings report.
CALIFORNIA | LOCAL
September 9, 2000
A 23-year-old El Segundo student accused of sabotaging a company's stock by issuing a phony news release was freed Friday from a federal jail on $100,000 bail. Mark Simeon Jakob, an El Camino College student, is accused of a hoax that drove down the stock price of Orange County-based Emulex Corp. by 62%. Authorities estimate investors lost about $50 million collectively because of the false report, which was picked up by a major financial wire service and others.
January 24, 1991 |
The trading history of Topologix Inc., a Denver-based computer software concern that went public Oct. 4, 1988, for the equivalent of $1 a share, provides an example of how the defendants in the stock-rigging case unveiled Wednesday allegedly conspired to defraud investors. According to the indictments, the fix was in even before the new issue was underwritten by two of the defendants, Wakefield Financial Corp. and G. K. Scott & Co.